Cutting single line fonts in Fusion360

I can not figure out how to cut single line fonts in Fusion360. I’ve tried contours, engraving, and tracing. No combination of settings seems to work correctly.

Anyone have any suggestions? What am I missing?

Assuming you started with one of the single line cad fonts in Fusion that end with .shx, you should be able to do a trace. Depth is controlled with Axial offset under the Passes dropdown.